An EOQ model with partial backordering and advance payments for an evaporating item
نویسنده
چکیده
In the classic Economic Order Quantity model the purchasing cost of an order is paid at the time of its receipt. In some cases retailers ask purchasers to pay all or a fraction of the purchasing cost in advance and may allow them to divide the prepayment into several equal-sized parts. In this paper, an economic order quantity model for an evaporating item with partial backordering and partial consecutive prepayments is developed with a real case study of a gasoline station. Real numerical examples illustrate the proposed model and the solution method. & 2014 Elsevier B.V. All rights reserved.
منابع مشابه
The deterministic EOQ with partial backordering: A new approach
Several authors have developed models for the EOQ when only a percentage of stockouts will be backordered. Most of these models are complicated, with equations unlike those for the EOQ with full backordering. In this paper we extend work by Pentico and Drake [The deterministic EOQ with partial backordering: a new approach. European Journal of Operational Research 2008; in press] that developed ...
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